Private Credit Firms
136 private credit managers, each identified from its own site, with the regulatory AUM and private fund gross assets on its Form ADV. Form ADV has no private credit fund type, so no filing picks these firms out and the list runs A to Z. Of those that report regulatory assets, KKR Credit Advisors (US) is the largest: $270.9 billion through KKR Credit Advisors (US) LLC (filed ).
Oaktree Capital Management follows with $183.3 billion. The 109 advisers counted report $2,404.3 billion together; the ten largest hold 51% of it, and half report less than $8.3 billion.
Updated . Rechecked quarterly; next check . Figures read , as filed to .
- $25BN and over81%30 firms
- $10BN to $25BN12%17 firms
- $5BN to $10BN4%14 firms
- $1BN to $5BN3%26 firms
- $500MM to $1BN0%8 firms
- Under $500MM0%14 firms
Latest Form ADV of each, filed Mar 2026 to Oct 2026. Read ; sources at the end of the page.
- Private credit firms listedList of October 2026; 124 are private credit managers and 12 are multi-strategy alternative asset managers
- 136
- Combined assets109 counted; as filed to Oct 2026
- $2,404.3BN
- Median firmHalf of the 109 report less
- $8.3BN
- Held by the ten largestOf the $2,404.3BN combined
- 51%
KKR Credit Advisors (US), Oaktree Capital Management and HPS Investment Partners lead the Worldwide private credit firms by assets
The ten largest by regulatory assets on their latest Form ADV. Together they report $1,225.7BN, 51% of the $2,404.3BN the 109 counted report.
- 1
KKR Credit Advisors (US)
Multi-strategy alternative asset manager, San Francisco, CA
$270.9BNRegulatory assets, Sep 2026
63% insurers, 34% private funds, 1% pension plans
- 2
Oaktree Capital Management
Private credit manager, Los Angeles, CA
$183.3BNRegulatory assets, Aug 2026
81% private funds, 9% insurers, 5% pension plans
- 3
HPS Investment Partners
Private credit manager, New York, NY
$175.7BNRegulatory assets, May 2026
77% private funds, 21% insurers
- 4
Golub Capital
Private credit manager, Chicago, IL
$124.3BNRegulatory assets, Aug 2026
99% private funds
- 5
Oak Hill Advisors
Private credit manager, New York, NY
$100.7BNRegulatory assets, Jun 2026
77% private funds, 8% pension plans, 7% sovereign funds
- 6
Ares Capital Management
Multi-strategy alternative asset manager, Los Angeles, CA
$97.6BNRegulatory assets, Aug 2026
55% bdcs, 32% private funds, 5% sovereign funds
- 7
Pinebridge Investments
Private credit manager, New York, NY
$76.7BNRegulatory assets, May 2026
30% insurers, 29% private funds, 18% other advisers
- 8
GoldenTree Asset Management
Private credit manager, New York, NY
$70.1BNRegulatory assets, Jun 2026
70% private funds, 17% businesses, 7% government
- 9
Carlyle Global Credit Investment Management
Multi-strategy alternative asset manager, New York, NY
$68.4BNRegulatory assets, Jul 2026
57% private funds, 25% insurers, 10% funds (1940 act)
- 10
Blackstone Private Credit Strategies
Multi-strategy alternative asset manager, New York, NY
$57.9BNRegulatory assets, Jul 2026
89% private funds, 8% insurers, 2% high net worth
Regulatory assets each adviser reported in its latest Form ADV. Each pin opens the filing behind the figure; the ranking rule and sources are at the end of the page. Read .
The ten largest hold 51% of the assets
How the 109 firms counted spread by size: most are small, the dollars sit at the top.
One dot per firm counted; 27 firms with a main office outside Worldwide, a second row for the same adviser or only fund assets left out. Read .
Assets each reported in its latest filing; shares are of the $2,404.3BN combined, one row per firm. Read .
11%
of the assets reported sits with one firm, KKR Credit Advisors (US). The five largest hold 36%; 22 of 109 report under $1 billion.
- Private credit managers124
- Multi-strategy alternative asset managers12
Kind of each, from its own website and filings, checked October 2026.
- Private funds73%
- Insurers14%
- BDCs3%
- Government2%
- Pension plans2%
- Businesses1%
Client types each adviser reports with its assets, latest filing; sums of filed figures.
Leaders beyond the ranking
Figures the main ranking does not compare: the largest holdings of US listed stocks, most private funds.
| Rank | Name | Figure |
|---|---|---|
| 1 | Sona Asset Management (US) | $4.8BNQ2 2026 |
| 2 | GoldenTree Asset Management | $1.7BNQ2 2026 |
| 3 | Diameter Capital Partners | $1.2BNQ2 2026 |
| 4 | Knighthead Capital Management | $1.2BNQ2 2026 |
| 5 | Silver Point Capital | $1.1BNQ2 2026 |
| 6 | Monarch | $707MMQ2 2026 |
| 7 | Crestline Management | $535MMQ2 2026 |
| 8 | Brigade Capital Management | $534MMQ2 2026 |
18 firms counted here report listed stocks for a 2026 quarter.
| Rank | Name | Figure |
|---|---|---|
| 1 | Oaktree Capital Management | 284Aug 2026 |
| 2 | HPS Investment Partners | 253May 2026 |
| 3 | KKR Credit Advisors (US) | 108Sep 2026 |
| 4 | Oak Hill Advisors | 94Jun 2026 |
| 5 | Golub Capital | 92Aug 2026 |
| 6 | Crescent Capital Group | 88May 2026 |
| 7 | Blue Owl Credit Private Fund Advisors | 87Jun 2026 |
| 8 | CIFC Asset Management | 87May 2026 |
The list is public. The warm path is not. Schedule a conversation
All 136 private credit firms
A to Z, with each firm's regulatory assets, private funds, listed stocks and fund offerings, each with a pin to its filing; firms with no figure show the interests they state on their own sites.
Showing all 136 firms
The first 30 are shown here; find, a kind or a size shows every match.
No row matches. Clear the find field or choose All.
Assets are the regulatory assets in the adviser's latest Form ADV (solid bar; grey when the firm is not in the totals; hatched when an exempt adviser reports only its funds). Listed stocks are the US listed securities a firm reports each quarter; fund offerings count the private offering notices of funds named for the firm in two years. Each pin opens the filing behind the figure. The square beside a name opens every figure with its filing and notes.
A few large advisers hold most of the money
Six findings from the filings of the 109 firms counted.
- 11%
of the $2,404.3 billion the 109 firms counted report is one firm's: KKR Credit Advisors (US). Without it, the other 108 report $2,133.5 billion.
Assets, latest Form ADV of each; sums of filed figures
- $8.3BN
is the median: half of the 109 report less, and 22 report under $1 billion.
Assets, latest Form ADV of each
- 3,519
private funds are advised by the firms counted; Oaktree Capital Management advises the most, 284.
Private funds on each Form ADV (Schedule D); sums of filed figures
- $13.6BN
of US listed stocks reported by 18 firms counted for a 2026 quarter; the largest, Sona Asset Management (US), reported $4.8 billion.
Quarterly listed stock reports (Form 13F), 2026
- 45
private offering notices in two years were filed by funds and vehicles named for 2 firms; Golub Capital leads with 41.
Private offering notices, to
- 73%
of their assets is private funds money; the next largest client type is insurers, at 14%.
Client types each adviser reports with its assets; sums of filed figures
Questions
How many private credit firms file with the SEC?
No filing counts them: Form ADV has no private credit fund type, and credit funds are filed as hedge, private equity, securitized asset or other funds. This page lists 136 advisers that file Form ADV with the SEC and say on their own sites that they are private credit managers, each with the regulatory AUM and private fund gross assets on its latest filing (the SEC files of October 1, 2026).
What are the largest private credit firms?
By the regulatory assets they report: KKR Credit Advisors (US) $270.9 billion, Oaktree Capital Management $183.3 billion, HPS Investment Partners $175.7 billion, Golub Capital $124.3 billion, Oak Hill Advisors $100.7 billion.
How much do private credit firms manage?
Of the 109 on this list that report regulatory assets, the median reports $8.3 billion; the largest reports $270.9 billion.
How do you start a relationship with private credit firms?
Each firm on this page links to its own website, and each figure carries a pin that opens the public filing it comes from. For fund managers and companies raising capital, Praxis Rock runs capital formation programs; see Raise Capital.
Sources and method
- Who is listed
- 136 private credit managers that file Form ADV with the SEC (files of October 1, 2026), each says on its own site that it is a private credit manager. Form ADV has no private credit fund type: credit funds are filed as hedge, private equity, securitized asset or other funds, so no filing picks these firms out and no filed figure ranks them. We read 849 candidates (an earlier verdict of the site, a filed name that says credit or lending, or a larger filer not led by private equity or venture funds) and list the 136 whose own sites say private credit; each row quotes its regulatory AUM and its private fund gross assets. 121 of the 136 have their main office in the United States. Left out: 335 whose kind elsewhere on this site is another business (private equity firms 89, hedge fund managers 50, traditional and diversified asset managers 34, multi-strategy managers 30, wealth managers 25, fund of funds managers 24, infrastructure managers 22, real estate managers 19, consultants 11, venture capital firms 7, bank platforms 5, fund platforms and fund services firms 4, family offices 2 and other businesses 13); 28 sister advisers folded into the row of their business.
- Ranking rule
- The top 10, every total, share and median, the charts and the answers to the questions use one set: the 109 advisers that report regulatory assets in their latest SEC Form ADV, that the filing itself ties to the row (the CRD the list cites, or the row's own website in Item 1.I), one figure per adviser. A name match with no such tie is shown in the row's detail only, never ranked or counted.
- Our arithmetic
- The $2,404.3BN, the median, shares, charts and boards are sums and medians of filed numbers over that one set; 27 firms with a figure outside it stay listed with the figure and the reason.
- Pins
- Each figure's pin opens the filing it comes from: the adviser's Form ADV as filed, or the SEC filing index of its 13F report or of the latest private offering notice (Form D). The pin's label names the source and its date.
- What we searched
- On we searched every firm by its website against the websites advisers list on Form ADV, by the CRD the list cites, by name for Form ADV, and by every CIK found for 13F reports, and searched private offering notices for funds named for it. Of the 136, 136 report on a current Form ADV, 30 file 13F reports (18 for a 2026 quarter with a value), 3 have funds named for them in private offering notices, and 0 more show a possible match by name only in their detail, not counted.
- Words
- Kinds and interests are each firm's own, from its website. No person names are shown.
| Figure | Source | Period, read |
|---|---|---|
| Assets, private funds, client types, main office, employees | SEC Form ADV adviser data, October 2026 report, and each adviser's Form ADV as filed, 136 advisers | Filings to 2026-10-01; read 2026-10-31 |
| Listed stocks | SEC EDGAR Form 13F, 30 filers | Latest quarter; read 2026-10-31 |
| Private offering notices of funds named for a firm | SEC EDGAR full text search, Form D and D/A | 2024-10-30 to 2026-10-30 |
| Kind, interests and website | Each firm's own website, as researched for this list | Checked 2026-10-31 |
| Logos | Each firm's own website; a monogram where none checks | Read 2026-10-31 |
Cite as: Praxis Rock Advisors, "Private Credit Firms," updated October 31, 2026, praxisrock.com/resources/investors/private-credit-firms